HONGKONG DAILY PRESS
BANKS
U.S. - SOVIET
TRADE PACT
HONGKONG & SHANGHAI THE CHARTERED BANK OF Existing Agreement
BANKING CORPORATION
INDIA, AUSTRALIA
AND CHINA
Authorised Capital....
$60,000,000
Prolonged
WASHINGTON, `Aug. 5⋅ (Reuter)
Issued & Pully Paid-Up $20,000,000 Incorporated by Royal Charter, 1853 The State Department has pro-
Keserve Funds:
་་་་་་་ཐ་་
Sterling
..... £8,000,000 H.K. Currency Reserve $10,000,000 Reserve Liability of
Proprietors
.....$20,000,000
Head Office:-÷HONG KONG,,
Board of Directors: A. L. Shields, Esq.,
W. H. Lock, Esq.,
Chairman.
Deputy Chairman.
Hon. Mr. J. K. Bousfeld,
A. H. Compton, Esq. "
Hom Mr. 8. H. Dodwell,
D. F. Landale, Esq.,
G. Miskin, Esq.,
K. S. Morrison, Esq..
Hon. Mr. T. E. Pearce,
H. V. Wilkinson, Esq.
Sir Vandeleur M. Grayburn,
longed for rear the existing trade
reement with the Soviet The agreement was dos to ex- ..£3,000,000) pire on Sunday.
Paid-Up Capital....... .£3,000,000 Reserve Fund
£3,000,000 Reserve Liability of Pro-
prietors.
HEAD OFFICE: LONDON: 38, Bishopsgate E.C.2. Sub-Agencies In London: 117/192, Leadenhall Street, B.C.3
West End Branch; 14/16, Cockspur Street, S.W.1. Manchester Branch:
59, Mosley Street, Manchester, £.
AGENCIES AND BRANCHES:
ALOE STAR HARBIN FENANG AMRITSAR HONG KONG RANGOON BANGKOK ILOILO
BAIGON BATAVIA IPOH
SEREMBAN BOMBAY
KARACHI SHANGHAI
KLANG
SINGAPORE SITIAWAN HOURABAYA TAIPING TIENTBIN TONGKAR
CALCUTTA
AGENCIES: KOME CLIVE SEXT
KUALA
Chief Manager. Paini PLACE
Branches:
LUMPER KUCHING. "MAD HAS
(Bhuket)
CANTON"
CAWNPORE
Amoy Ipoh
Bangkok
Batavia Robe Bombay
Kowloos
Penang" Johore Rangoon
Saigon San
MAT COLOMBO DELILI
Calcutta
Kuala
Francisco
HAIPHONG HAMBURG HANKOW
MANILA MEDAN NEW YORK
PEIPINO
TSINGTAO ZOKOHAMA
Canton Lampur
Shanghai
Chefoo
London
Singapore
Malacen
Sourabaya Sungai
Colombo Lyons
Dairen
Foochow Manila
Haiphong Muar
Patazi Swatow
Hamburg (Johore) Tientsin Bankow Mukden Tokyo
Härhin New York Tsingtao Hongkew Peiping Yokohama Iloilo
(Peking)
FOREIGN EXCHANGE and General Banking Business transacted.
CURRENT ACCOUNTS opened and FIXED DEPOSITS received for Que Year or shorter periods in Local or Other Currencies at rates which will be quoted on application.
SAVINGS ACCOUNTS also opened in Local Currency and Sterling with interest allowed at rates obtainable on application.
CURRENT ACCOUNT opened in LOCAL CURRANOY and FIXED Deposita The Bank's Head Office in London received for One year or shorter undertakes Executor and Trustee periods in Local and other Cur-business, and claims recovery of rencies од terms which will be British Income Tax overpaid, on quoted an application.
terms which may be ascertained at. ALSO, up to date Sara DEPOSIT any of the Agencies and Branches. Borts in various sizes To Lat
R. A. CAMIDGE, Hong Kong, th June, 1930,
HONGKONG SAVINGS
BANK
The Business of the above Bank is conducted by the HONGKONG & SHANGHAI BANKING COR PORATION. Rules may be obtain- ed on application.
For the HONGKONG & SHANGHAI
BANKING CORPORATION.
V. M. GRAYBURN,
Chief Manager Hong Kong, 25th Feb., 1830.
BANK OF EAST ASIA,
LIMITED
Authorised Capital.. .$10,000,000.00 Paid-Up Capital 5,598,600.00 Reserve and Undivided
Profita
2,883,992.01
Head Office:-HONG KONG
No. 10 Des Voeux Road, Central.
Board of Directora:
Sir Shouson Chow, Chairman
Li Koon Chan, Esq.
P. K. Kwak. Esq.
Wong Tan Tong, E.
Chan Ching Shok, Esq.
Li Lan Bang, Esq.
Wong Chu Son, Esq.
Kan Ting To, Eng.
Fung Ping Wah Esq.,
Kan Tong Po, q, Chief Managat.
Li The Fong, Esq., Manager.
Branches and Agencies :----
Punkne
Singaporn
Kowloo Landon Rangoon Surabaya
Salgon Bwstow
Melbourne Ban Fran. Sydney
Amoy
Batavia Babay
Manila
Cabout
Bankow "Hoolala
"Kobe
Haiphong
Nagnanka
cla Titain New York Beattle Yazicover
Paria Piping
Semarang Shanghal
Every description of Banking and Exchange business transacted. Loans granted on approved securities.
Current Accounts opened. in Local Currency and Fixed Deposits "re- ceived for one year or shorter periods in Local and Foreign Cur rencies on terms which will be quoted on application.
SAFE DEPOSIT BOXES TO LET.
EAN TONG PO,
Chief Manager.
BANK OF CHINA
ا.
Specially Chartered by THE NATIONAL GOVERNMENT OF CHINA AS AN INTERNATIONAL EXCHANGE
Manager.
THE CHASE BANK
15, QUEEN'S ROAD, CENTRAL
HEAD OFFICE:
18, PINE STREET,
NEW YORK.
An American Bank offering com plete Foreign Banking Service in the principal Markets of the .world. Interest Rates on "Application.
SAFE DEPOSIT BOXES
This Bank, is entirely owned by THE CHASE NATIONAL BANE, NEW YORK, with Resources over, 1.8. $2,500,000,000.
D. M. BIGGAR,
Second Vice Pres
HONGKONG
SHAREBROKERS'
ASSOCIATION
Volume of Business Transacted
· on Saturday Aug. 5, 1939 Waisons
1000 $3.00 20000 Ps 13
Mine Operations
LONDON BULLION
SHIPMENT.
Tariff Reductions · A Reuter message states that under the terms of the prolonged U.S.-Russia trade agreement the Soviet will buy a minimum of £8,000,000 worth of American goods during the next 12 months, while she will not export · more than 400,000 tons of coal to the United States,
The United States will accord the Soviet Union the same tarifi reductions as countries with which the United States has trade agree- ments.
Deficiency Bill WASHINGTON, Aug. 5 (Reuter) | The Senate yesterday passed the President's Deficiency Bill after approving amendments increasing the provisions to about $189,000.- 000.
This is $135.000.000 more than previously approved by the House of Representatives.
་་
$133,000,000 More.. WASHINGTON, Aug 6 (Reuter) A Joint committee of the Senate and House of, Representatives agreed to the terms of President Roosevelt's Deficiency Appropria- tions Bin which now amounts to This is $131,000,000 $135,000,000. more than the sum previously approved by the House.
The committee agreed to reten- tion in the Bill of $119,599,000 for the Commodity Credit Corpora- tion which will be used in bolster- ing farm prices.
The Bill returned to the House which approved it by 58.to four. It has now gone to the White House for President Roosevelt's approval "
WEEKLY RUBBER
REPORT
Liverpool, July 25. REYNOLDS AND GIBSON RUBBER
LONDON.-A steady tone has prevalled throughout the week. Near.. delivery "on c.l.f. terms is still much in demand and if the negotiations of the French Gov- ernment for a large purchase of early delivery meet with success a great stimulus should be given to our market.
UK. Board of Trade figures for the first six months of this year, compared with the corresponding period of the two previous years, are as follows:-
Imports --- January/June, 1939, 55.333 tons; 1938, 104,304 tons; 1937, 45,747 tons.
Exports January/June, 1939, 20,290 tons; 1938, 13,486 tons; 1937. 31,007, tons.
Stocks-June 30, 1939, 63,550 tons; 1938, 92,144 tons; 43,222 tons. Shipments from Malaya for the Arst half of July were cabled. at 18,000 tons with a forecast for the whole of the month of 37,500 tons, whilst Ceylon exports for the first half of July at 2,205 tons, compare. with 1,378 tons for the correspond-
London, Aug. 4 (Reuter), The P. & C. liner Cathay carries species valued at £8,300 including period in June. Ing:
Silver
Bombay, £4,400. Port Sald, £1,100. Tripoll, £400. Colombo, £400,
CONVERSION LOAN made in
FINANCE
HONGKONG SHAREBROKERS
ASSOCIATION
VOLUME OF BUSINESS TRANSACTED FORE WEEK ENDING
H.K, Banks ...
Union Ins.
Lands
Trams Electrics
MONDAY, AUGUST 7, 1939 -PAGE 13
PRESIDENT LINER
Sailings
FOR SAN FRANCIS00 & LOS ANGELES via SHANGHAI, KOBE, TOKOHAMA, and HorOLULU 8.S." PRESIDENT TAFT"
AUGUST 4, 1939.
31 $1335.00 to
7 396.00
$1320.00
200".... 34.75
1700
18.70
637
53.75
FK Docks Telephones (0)
100
10.30"
...500
22.00
Telephones (N)
$7
7.25
Saila
China Lights (N)
20
4.00
Cementa Hotels
500
12.25
20
5,00
500
4.25
5000 Ps.
24)
8.8. * PRESIDENT CLEVELAND". 8.8" PRESIDENT PIERCE TM 88. "PRESIDENT COOLIDGE " 8.A. "PRESIDENT TAFT"
H
10000 Ps
.25) to Ps
241
S.8. “PRESIDENT. CLEVELAND "
15
Ang. 17th at 8,00 AM. Aug, 20th at 8.00 A.M.. Sept. 9th at 400„P.M. Sept. 23rd at 800 AM. Oct. 7th at 8:00 AM- Oct 21st at 8,07 A.M.
Providents Antamoks Coco Grove
United Paracale Big Wedge Consol. Mines
H. K. STOCK EXCHANGE
There was no change to record during the morning trading.
BUYERS
Canton Ens; $200 Union Ins: $3871 H.K. Docks, 918,-
HK, Lands 4% Debs. Par. Yaumati Ferries, $22 H.K. Electrics, $53) Canton Ices. $1.
HK Govt. 4% Loan, $1024. H.K. Govt: 3% Loan, 991
SELLERS
Union Ins; $3973. China. Underwriters, $1.35. H.K. Docks, $182. Humphreys, $8.
SALES
HK, Bank, $1320/221. Union Ins; $395.
PHILIPPINE MINING
Atoks
Antamok
QUOTATIONS
Bagulo Gold
2800 Ps 1441 3000 P3 221 200000 Ps 2002)
SHARE MARKET REVIEW
HONGKONG SHAREBROKERS'
ASSOCIATION
Friday, Aug, 4. The market has continued very quiet during the week with little! movement" in prices. The volume of business shows
B decrease against that recorded for the previous week. Investment.stocks have remained steady while on the other hand there has been some recession in the prices of the more speculative stocks which, however, have steadied at the lower levels. Electrics, after
changing hands at 534, are m at this price with further demand. Similarly Lands are wanted at $342 after-changing hands at this figure earlier in the week. Wharves have buyers at $102 without find- ing sellers. Trams have remained steady at $16.70 and HK Docks are wanted at $181. Dairy Farms were offering at $21 and, Star 0130 Ferries at $64. Of the lower priced 10.50 stocks Hotels ensed to $5 with sales reported at this price and further buyers. Providents were wanted at $415 with sales reported
21
22
20
Batong Buhay
Benguet Consolidated
Big Wedge
Coco Grove
Consolidated Mines.
Demonstration
1.XL...
Ipo Gold
21
23 .. 0025
at this figure. HK Bank shares have, continued to attract buyers and business has been recorded at $1325 (cum dív),
Gold mining stocks have been quietly steady during the week. This market, however, is very aus- ceptible to outslat infriences and at the close price levels are slightly lower than those ruling at the close of business for the previous 131 week. Ban Mauriel, lost 3 ctvs to 032090 ctvs Antamoks closed at 224 43 etvs, a loss of 3 ctvs. LX.L. W38 down 2 ctvs at 43 ctvs and United
00
43
185
Itogon Mining
231
Masbate Consolidated
11
Mindanao Motherlode
08)
Mine Operation.
13
North Camarines
22
Paracale Gummaus
16
San Mauricio
90
Surigao" Consolidated Suyoc Consolidated Syndicate Investment United Paracale
23
¿QUOTATIONS Aug. 5, 1939
Coco Grove 1 ctrs at 244 ctva.
21+
Surigao Consolidated has announ-
22
20
013
PHILIPPINE GOLD MINING
·Atoka......
Antsmoks.. Bagulo Gold Batong Buhay. Benguet Consol. Big Wedze
Ipo Gold
Itogons Mining
Masbates Consol Mine Operations North Camarines
AND PORTNIGHTLY THEREAFTER
FOR NEW YORK & BOSTON
via... SUEZ
„S.8. "PRESIDENT VAN BUREN" Sails Aug. 17th at 18 Noon
SS. PRESIDENT HARRISON "
Sept at at 12 NOON
AND FORTNIGHTLY THEREAFTER
FOR MANILA
ÁS. "PRESIDENT CLEVELAND" Sails Aug. 19th at 2.00 AM. 9.S." PRESIDENT HARRISON" 8.S PRESIDENT PIERCE" 8.8"FRESIDENT COOLIDGE
*1
Sept. 1st at 12. Noon
15
Sept. 3rd at 2.00 AM.
Sept. 16th at 1.00 AM.
AMERICAN PRESIDENT LINES
"ROUND. WORLD SERVICE"
12, PEDDER ST.
THE
TEL. 28171.
CHINA-SIAM
HONG KONG-BANGKOK ·
1. "HIRAM”. “ leaving Hong Kong 1.1. “HELLAS" leaving Hong Kong 5.3. "HELIOS" leaving Hong Kong
LINE.
13th August
23rd August 30th August
23rd August
HONG KONG-SWATOW-AMOY m.s. "HAI HING" leaving Hong Kong Accepting Passengers & Cargo for all the above mentioned ports.
HONG KONG-SINGAPORE-PENANG-BANGOÔN
Regular Express Service
leaving Hong Kong
m... "HAI LEE” »
"HAI HING"
leaving Hong Kong
6th Aug.
26th Aug.
Accepting cargo for all the above mentioned ports.
Excellent passenger socommodation available.
נן
For freight, passage rates and all other information Apply to:
THORESENTM
Tel. 30237.
General Agents,
CO., LTD.
Queen's Building,
Paracale 14 ctvs at 431 ctvs and CONSIGNEES' NOTICES CONSIGNEES NOTICES
ced a 1 ctv dividend, payable on SERVICES CONTRACTUELS DES 21st August.
10.50 HONGKONG MINES
21
Coco" Grove
24
"Consol, Mines
0025
Demonstrations
09
IX.IM
43
161
23}
11
13
18
90
23
131
032
42. 08
Paracale Gumaus San Mauricio ... Surigao Consol. Suyoc ConsDI. Syndicate Investment United Paracales ..... Mindanao Motherlode
cover the cotton and this is said to be in the neighbourhood of 80/85,000 tons. Then, and then only, will the British Government be in a position to commence buying the rubber for shipment to the USA.
.ין
OUTPUT.
Messrs.
Nielson & Co, Inc.,
jor managers
the Hongkong Mines, Limited, report 5001 short' dry tons of ore treated for the month of July, from which 589.02 dry tons of Lead Concentrates were produced, averaging 61.17 percent Lead and 1464 c. Bliver
per tub.
BANK NOTES IN CIRCULATION
Returns of the Average Amount of Bank Notes in Circulation in Hongkong, during the month ended July 31, 1939, as certified by the Managers of the respective Banks
#
MESSAGERIES MARITIMES
www.
CONSIGNEE NOTICE.
8.S." PRESIDENT DOUMER" .19A/89.
BRINGING CARGO Frox MARSEILLES via SAIGON, etc.
ARRIVED HONG KONG on WEDNESDAY, THE 2ND AUG., 1999
MONSIGNEES are cereby informed that their goods with the exception of Opium, Treasure and Valuables are being landed & stored into the Godowns of the Hong Kong, Kowloon Wharf & Godown Co., Ltd., Kowloon, whence delivery may be obtained immediately After landing.
All claims must be mot in to me on
NOTICE TO CONSIGNEES
.. PENINSULAR AND ORIENTAL. STRAM NAVIGATION Ca's
SZIANER ** BOMALL”
ARRIVEDEONG KONG
STE AUG., 1939.
OK
From ANTWERP,LONDON,GIBRAL TAR, MARSEILLES, MALTA, PORTSAID, ADEN, COLOMBO
LD STRAITS.
C
“NONBIGNERS of Cargo by the above...
named. Vossel are hereby informed that their Goods are being landed and placed AT THEIR 1x in the Hong Kong and Kowloos Wharf and Godown Come pany's Godowns at Kowloos, where each Consignment will be sorted out Mari by Mark and Delivery can be obtained sa the Goods are landed.
Optional Goods will be landed here. or before the 19th Ang, 1939, or anlo Instructions have been the beta contrary Siz Hoars before arrival of the
Damaged Packages will be examined Steamer. by the Company's Surveyor, Messrs. Goddard & Douglas in the presence of the Consignees at 10.00 sm, or Tues- day, the 8th Aug, 1839,
Chartered Bank of India, Aus- tralia and China $23,323,287.
Hongkong & Shanghai Banking Corporation $211,342,228;
Mercantile Bank of India, Ltd.
Total: $239,018,185.
As previously expressed, we do not think that the normal work-$4.350,670, ings of the IRRC should be greatly disturbed and, if anything, the requisite the acquistion of
LONDON GOLD
London, Aug, 6. (Reuter). Bar Gold, Mine per oz, 148/5).
Consignees must have Bevense
Officer in attendance when any dufiable
goods are examined by the Company's Barveyors.
No Fire insurance will be effected by da in any case whatever, t
ROHL No Agent Hong Kong, 2nd Aug, 1939.
|
Goodenot cleared.. within » 8 days. including date of arzival will be subject to Bent.
No Fire Insurance will be effected by us in any case whatever.
Damaged Packages must be left in the Godown for examination by the Oos- miguses, and the Company's "BurreYDIM. Mosare. GODDazo & Douglas, at 10 am, on Mondays and Thursdays, within the Tree Storage period,
Consignoes are specially notitled that it is necessary for a Revenue Officer to be present at the examination 594 damaged dutiable cargo.
All Claims against the Steamer must be presented to the Undersigned on or before 26th Aug, 1989, or they will not be recognized.
No Claims will be admitted after the Goods have lift tha Godown MACKINNON, MACKENZIE & Co.
*Agenta:
Rubber markets the world 'over are now waiting the decision of the International Rubber Regula tion Committee for the forthcom- ing quarter, both as regards the normal working of the scheme, and the extraordinary arrange- ments which will doubtless be connection with the cotton/rubber barter deal. Writ The following statement of the ing in advance of the meeting, we securities lodged with the Crown feel fairly well assured that a 5% Agents by the Mercantile Bank of increase, making 60% for the India. Limited, against their notes October/December, period, would in circulation, is published for be received favourable by the amount for barter purposes." ever general information under Section market. Stocks especially in the with a 10% additional release as 5 of the Mercantile Bank Note U.K., "have been drastically re- generally anticipated, should tem- Issue Ordinance, 1911, (Ordinance.duced almost week by week re- porarily stimulate, activity in the No. 65 of 1911)
cently and it is scarcely to be market to a slightly higher range Security: 4 per cent. Conversion, imagined that the authorities of prices BANK
Movements of Rubber in London Loan repayable 1940/1944-Amount coticerned will countenance this PAID-UP CAPITAL $40,000,000.00 £240,000; Latest market
and Liverpool for week ending MOVEMENT OF GOLD AND SILVER Hong Kong, 5th Aug 1920. with Europe in the present state. (BRANCHES. ALL OVER CHINA)
103-104-
Regarding the barter deal, thus July 22, 1939 Owing to our numerous Branches
has become almost a distinct and London-Landed 539 tons: De- in China and connections in the
separate problem for the LR.R.C.livered 2,493 tons; Stock 39,074 principal Commercial Centres of Claiming success for the Chinese As we write. It does not look as if tons; same time last year 61,678] the World, we are able to extend control of imports, the Chinese any additional release would be | tons. to our Clients special facilities for
Liverpool-Landed 388 tons; press in Chungking on July 30 necessary at this juncture to Im- Domestic and Foreign Banking and reports that for the first half of plement the barter scheme, as Delivered 1,209 tons; Stock 19,232 Exchange.
the current year those porta difficulties are being encountered tons; same time last year 32,065 where imports exceeded exports at the American end of the agree tons, Included Shanghai, Tertia,ment. Even after Congress has New York-This market looked Klaochow, Chinwangtao. Chefoo, passed the agreement, further fairly strong about a week ago and Amoy all in the Japanese negotiations will be necessary to and revealed a greater dizerence occupied areas. On the other hand, decide ranny technical detalls with over London than for some time, those ports where exports ex-respect to packing and qualities A good consumptive demand con- ceeded imports include Mengtae, required, the period allowed for tinues but there has also been a Shaochow, deterioration In quality and also little bedge selling by dealers. We also handle the issue of Bonds Wenchow, Lualchow
the question of replacement. When The Immediate course of prices and other Public Fands of the and Tengyueh, all in, free China." Chinese Government both at Home For the whole of China, Imports all these points are settled, the should be determined by the an- and Abroad.
during the first six months of British Government will then nouncement of the LRRO in all 1999 exceeded exports by $319, formally request the IRRC. to probability after this circular bas
release the requisite amount to gone to press. Manager 224,775
Head Office:-SHANGHAI
Hong Kong Branch:
4. QUEEN'S ROAD, C.
South China Officer:-
CANTON
SWATOW
KONGMOON TOISHAN
SHIUCHOW KINGCHOW
BHDU JANTEN,
price
GOLD
London, August 4 (Realer).
Tutal EXPORTB from the United Kingdom. Including: To the United States
Week ended Week ended ¡July: 26 Ma (Aug. 2018
9,399,0008,033,000
7,123,000 4,481,000 1,971,000 1,004,000
DONT FORGET
THAT WHEN You are at Home
you can get.
the
Siam
Belgiam „Bweden
916,000)
Switzerland
43,000.
France Syria
107,000
480,000 128,000 50,000
23,000
$35,000
Canada
$24,000
Total IMPORTS Into the United Kingdom Including: From British Afrien
1,335,000 1,703,000
2,838,000
2,181,
20,000
199,00
Bouthern Rhodesia
89,000
73,000
New Zealand
[47,000)
ILVER
DAILY PRESS
Total EXPORTB from the United Kingdom Including: To British Indian Totalk TPORTH INA Burtnited KİT Including: The United States (24
257,000
42,000
174,000
$20,000
123,000
86.0005
239,000
213,000.
British Indigo
Belgium
HONG KONG
#SELFRIDGES.